Reuters UK Business

Global equity funds see a weekly selloff on tariff woes, economic uncertainties

21 Mar 2025

(Reuters) – Investors pulled heavily out of global equity funds during the week through March 19 on lingering worries over the potential impact of U.S. President Donald Trump’s aggressive trade policies on global economy. They offloaded a net $29.7 billion worth of global equity funds during the week, the most for a week since December …

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BP sells Apollo $1 billion stake in firm invested in TANAP gas pipeline

21 Mar 2025

By Shadia Nasralla (Reuters) – BP has agreed to sell a stake in a firm invested in the TANAP gas pipeline linking Azerbaijan and Turkey for $1 billion to Apollo Global Management, the two firms said on Friday. CEO Murray Auchincloss is spearheading a $20 billion disposal programme through 2027 as BP looks to cut …

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BT approaches AT&T, Orange for foreign partnerships, Bloomberg News reports

21 Mar 2025

(Reuters) – Britain’s BT has approached telecommunication companies AT&T and Orange over possible partnerships to help turn around its international business, Bloomberg News reported on Friday, citing people familiar with the matter. “We’re keeping everything open and this means we’ve been speaking to third parties about a range of possibilities,” a BT spokesperson said, without …

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Sweden raises spending further this year to boost the economy

21 Mar 2025

STOCKHOLM (Reuters) – The Swedish government will increase spending by 5.8 billion crowns ($573 million) this year to boost the economy, with the bulk of the money spent on supporting the construction sector, it said on Friday. Growth in the Swedish economy is yet to fully recover and unemployment is running high against a backdrop …

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Luxury fashion betting on designer reshuffles faces tricky road ahead

21 Mar 2025

(This March 20 story has been refiled to remove an extraneous word in paragraph 2) PARIS/MILAN (Reuters) – A slump in luxury fashion is prompting designer reshuffles at top houses Gucci, Chanel and Dior to reignite heat around their brands – while avoiding too radical a reset that could confuse affluent shoppers. The stakes are …

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UK’s Reeves under pressure after new jump in government borrowing

21 Mar 2025

By Suban Abdulla and William Schomberg LONDON (Reuters) -Britain borrowed a lot more than expected last month, according to official figures that showed the scale of the challenge facing finance minister Rachel Reeves, who is expected to announce cuts to her spending plans next week. Public sector net borrowing stood at 10.7 billion pounds ($13.84 …

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UK gas producer Energean terminates Carlyle deal over approval delays

21 Mar 2025

By Anandita Mehrotra and Shadia Nasralla (Reuters) -UK-based gas producer Energean said on Friday it was terminating a deal with private equity fund Carlyle for the sale of some of its assets due to delays in obtaining regulatory approvals in Italy and Egypt. The two companies struck a $945 million deal in June last year …

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French quantum computer firm Pasqal links up with NVIDIA

21 Mar 2025

PARIS (Reuters) – Pasqal, a fast-growing French quantum computer start-up company, announced on Friday a partnership with chip giant Nvidia whereby Pasqal’s customers would gain access to more tools to develop quantum applications. Pasqal said it would connect its quantum computing units and cloud platform onto NVIDIA’s open-source platform called CUDA-Q. “Our collaboration with NVIDIA …

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Norway’s Hydro invests $156 million in new aluminium wire facility

21 Mar 2025

COPENHAGEN (Reuters) – Norwegian aluminium producer Hydro said on Friday it will invest 1.65 billion crowns ($156.29 million) in a new facility at its aluminium smelter in Karmoy, Norway, to supply aluminium wire for power cables in Europe. The new wire rod casthouse in Karmoy will have a capacity of 110,000 tonnes per year, Hydro …

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Salzgitter blames weak sales outlook on Germany’s stagnation, trade tensions

21 Mar 2025

By Bernadette Hogg and Isabel Demetz (Reuters) -German steel group Salzgitter said on Friday there was no end in sight to the stagnation of the German economy, and that uncertainty is on the rise when it comes to exports as tensions escalate between the United States and its trading partners. The German steel sector has …

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